Dutch multi-sector scheme bucks trend by increasing US private equity exposures
PNO Media plans to boost US weighting in private equity portfolio and real estate
PGGM anchors €1.1bn Polish commercial real estate credit risk deal
PPGM entered into a credit risk sharing transaction with mBank
Aon to introduce whole-life multi-employer CDC section to its master trust
Until now, only TPT Retirement had confirmed plans to launch multi-employer CDC
People moves: Allianz and Günther Thallinger part company
Allianz, Anthos, Huisartsen, Pensjonskasseforeningen, Ocean Conservation Trust
Greece to expand second-pillar pension provision
The changes are intended to give easier access to retirement saving, improve portability and streamline the tax framework
Aon launches Future DB to support schemes’ endgame preparation
Sixty-three per cent of schemes have reached, or expect to reach, their target funding level within five years
ÄVWL appoints Lutz Horstick as new CIO
Horstick will also becomea member of the executive management team from 1 August
Elementis Group pension fund completes £300m buy-in with Aviva
The transaction secures the benefits of 4,500 members of the scheme
Multi-employer CDC enters new phase as industry warns execution will be key
The multi-employer collective defined contribution regulations went live on 21 July
Hickson Group’s pension fund completes £208m bulk purchase annuity transaction
The transaction, completed with Royal London, secures the benefits of more than 1,250 members of the scheme
People moves: TPT Retirement Solutions picks business development manager
Plus: Aptia names actuary director; T Rowe Price names ETFs head
Diverging 2025 pension fund returns expose impact of asset allocation
‘Jurisdictions with higher equity exposure benefited more from the strong performance of global equity markets,’ says OECD in preliminary report
Northern Trust Asset Management loses £120m mandate to Amundi
Latest asset owner switches managers over climate pullback
Aston Martin pension fund speeds through £180m full buy-in with Aviva
The transaction secures the benefits of 540 pensioners and 1,050 deferred members
PPF consults on updated DB scheme valuation assumptions
The consultation follows a review of bulk annuity market pricing, which found pricing had become more competitive since the PPF’s last detailed review
WTW to streamline longevity swap access for smaller schemes
Also: Isio sees growth of PenUltimate Micro solution for smaller pension funds
BlackRock expands institutional offering with PCG Impact partnership
Growing pension fund demand is driving a new institutional impact investing collaboration with PCG Impact, says BlackRock
Pension funds come together to launch £1bn initiative to back UK scale ups
Railpen, NEST, Border to Coast and British Business Bank are exploring a £1bn fund to expand growth capital for UK science and technology businesses
PGIM expands direct lending platform with Deerpath buyout
Deal brings Deerpath fully into PGIM, expanding direct lending capabilities across lower, middle and large-cap markets
Global private equity deal count plummets to twenty-one quarter low
KPMG report says mid-year global PE exit volume was ‘incredibly soft’ at 1,315, marking the lowest exit pace in over a decade
PME halves equity risk in run-up to January DC transition
Dutch €64bn pension fund opts to reduce exposure to shares via physical sell-off combined with futures – cheaper than put options used by smaller funds
NEST expands data capabilities through Northern Trust partnership
NEST is strengthening data capabilities with Northern Trust as assets grow towards £100bn and decumulation planning accelerates
APG backs new STOXX ‘investable’ index framework, citing flexibility
Deutsche Börse subsidiary claims manager of Netherlands’ largest pension fund as one of two early adopters of its new IMI framework index product
UK backs continuity as Torsten Bell keeps pensions role
Pensions industry welcomes Bell’s reappointment following Andy Burnham’s cabinet reshuffle, citing continuity as government shifts focus from reform to implementation
FRR invests €100m in new climate transition index strategy
Developed with BNP Paribas, the index aims to identify companies that will be able to transform their business models in line with international climate goals
PRI creates real economy policy team
Gina Hanrahan, formerly a climate policy specialist at the PRI, will lead the team
People moves: LGPS Central picks head of fixed income
Plus: Mercer names international CIO; London Pensions Fund Authority adds to board
Superfunds offer a productive finance alternative to insurance buyout, says TPT
TPT says it has enough capital to complete around £1.5bn of superfund transactions in the first three years
Enpam commits €220m to Italian venture capital and small-cap investment
Italian pension fund for doctors backs venture capital, listed SMEs and real estate while taking advantage of domestic tax incentives
Germany picks DWS-led consortium for €6bn corporate bond mandate
German public pension reserves will invest up to €6bn in a DWS-managed Paris-aligned European corporate bond fund
Smiths Group completes £760m buy-in with M&G
The buy-in marks the fifth and final transaction for the pension fund’s de-risking journey
EU delays SFDR vote, proposes carbon price overhaul
Proposal for Emissions Trading System includes plans to extend regime to waste incineration, strengthen its sector coverage, and make it easier to use carbon removals
German pension funds drawn into scrutiny over withholding tax fraud investigations
BaFin survey and court proceedings keep pension funds in focus as Germany pursues withholding tax fraud claims
ABP leaves equity risk unhedged in countdown to DC transition
Dutch €518bn pension fund says derivatives ‘of limited feasibility’ given its size
IAPF consults on launching Ireland-focused long-term fund
Irish Association of Pension Funds says proposed fund would be a return-led investment proposition
OAK BV seeks stronger powers as Swiss pension fund consolidation gathers pace
Swiss supervisor proposes legal reforms to strengthen oversight as consolidation reshapes the country’s occupational pension landscape
Italian, German pension funds warn against compulsory SIU investment
Adepp and ABV reject mandatory pension fund allocations under European Union’s Savings and Investments Union
People moves: bfinance picks DACH director
Plus: Industriens Pension adds to pension board; NEST reappoints chair
Universities fund consults on cutting contribution rate to 16.4% after funding improves
USS’s improved funding position opens consultation on lower contributions while prompting debate over scheme’s long-term direction
UK targets first digital Gilt issuance by early 2027
Central bank will work to make DIGIT eligible as collateral in its market operations
Industry presses Pensions Commission for ambitious auto-enrolment reforms
Industry bodies urge phased auto-enrolment reforms, higher contributions and broader coverage to improve long-term retirement adequacy
Iceland’s pension fund investment rules shift to prudent-person principle
Pension funds gain more flexibility under the law to invest in unlisted companies, infrastructure
LAPFF, Sarasin rebut academic criticism over banks’ climate accounting
LAPFF and Sarasin defend investor demands for banks to better recognise climate-related risks in financial accounts
Regulatory roadmap aims to steer UK pensions through reforms
The Pensions Regulator’s five-year strategy focuses on sustainable income in retirement
Pensions regulator data shows modest private markets allocations across UK master trusts
Most UK master trusts have private market exposure, but few allocate more than 5% of default assets
UK government proposes phased implementation of Value for Money framework
Master trusts and large schemes will undergo first VfM assessment in 2028, with smaller schemes to follow in 2029
Metzler targets Germany’s emerging pension buyout market
Germany’s emerging pension buyout market is attracting new entrants with competing approaches to de-risking liabilities
UK government launches consultation process on £25bn DC scale rules
Department for Work and Pensions seeks industry feedback on implementing £25bn DC scale requirements before consulting on detailed regulations in 2027
Swiss pension funds reassess equity allocations as concentration risks mount
Consultants see Swiss pension funds refining equity allocations as concentration risks climb and rates remain low
UK outlines roadmap for DC assessments, scale reforms and DB changes
Government confirms timelines for DC value-for-money assessments, consolidation reforms, guided retirement and DB surplus measures
